Kbank is an online bank based in South Korea. Its largest owner is the telecommunications company, KT Corporation.[1]
History
Kbank launched in 2017, when both KT and Kakao were given licenses to launch Internet-only banks in Korea.[2] These two became the first new banks to launch in two decades.[3] The bank attracted 250,000 customers in its first two weeks.[4]
In May 2021, MBK Partners and Bain Capital invested 200 billion won each in Kbank to become the second largest shareholders of the bank.[5]
In September 2022, Kbank received approval for its initial public offering on the Korea Exchange although timing had not been determined yet.[6]
Services
Kbank offers the same products as traditional banks from debit cards to small loans.[2]
See also
External links
- Official website (Korean)
References
- Kakao, KT Surge After South Korea Grants Online Banking Permits Bloomberg News, 29 November 2015^
- Internet-only banks should spur financial innovations: The Korea Herald The Straits Times, December 2015^
- Asia: First internet-only banks in South Korea | RFI Global www.rfigroup.com^
- Kakao Bank Easily Tops K-Bank's Record-Breaking Run^
- Park Ga-young. K bank's capital jump to W2.1tr with inflow of new shareholders The Korea Herald, 2021-05-26, retrieved 2022-10-22^
- Internet lender Kbank gets green light for IPO The Korea Economic Daily, retrieved 2022-10-22^